Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

31329 Triborough Dr Wesley Chapel, FL 33545

3 Beds 3 Baths 1,693 sqft Built 2004

$250,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $147.67
  • 5 Days on Market
  • MLS # : T3286046
  • Updated Date : 01/21/2021 at 17:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,693 sqft
  • Baths : 2 full , 1 half
Listing Agent

Smith & Associates Real Estate

Listing Agent's Description

HURRY BEFORE THIS BEAUTY GETS AWAY! Situated on a picturesque POND lot in desirable Bridgewater, this 1693 sqft, 3bd/2.5ba home is perfect for those looking to Upsize or Downsize! The light & bright OPEN LIVING space on the First Floor includes the Kitchen, Breakfast Nook, Formal Dining Room, & Spacious Family Room! The Kitchen features ample cabinet space, breakfast bar, Stainless Steel Refrigerator, Dishwasher & Sink...PLUS...modern design trends and colors with grey, painted cabinets & wood-look tile floors! Whether hosting a holiday meal or relaxing by the TV, the open Dining Room/Family Room can easy accommodate a busy party or a quiet movie night! Also included on the First Floor is the Laundry Room and a REMODLED HALF BATH! NO CARPET in this home! On the Second Floor you will find the Owner's Suite and REMODELED BATH featuring a stunning white vanity with double sinks, decorative mirrors, shiplap wall, designer light fixtures, garden tub & walk-in shower! The 2 secondary bedrooms are also upstairs and share the second Full Bath. Soak up the sunshine and enjoy the peacefulness of the gorgeous pond on your Lanai & Fully Fenced Backyard! Bridgewater is a lovely community in a growing area of Wesley Chapel with well-maintained amenities including a playground, park, dog park & tennis courts! Super close to schools, restaurants, major highways, shops, Wiregrass Mall & the Outlet Mall!

SEE MORE

MARKET HIGHLIGHTS

  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)
  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.

PRICE & RENT TRENDS

Neighborhood: Bridgewater

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $85k295k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Bridgewater

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781835

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Watergrass Elementary School Primary Regular 785 60 5
Thomas E. Weightman Middle School Middle Regular 1,147 74 7
Wesley Chapel High School High Regular 1,582 99 6

Watergrass Elementary School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 60
5
GreatSchools Rating

Thomas E. Weightman Middle School

  • Education Level: Middle
  • # of students: 1,147
  • # of teachers: 74
7
GreatSchools Rating

Wesley Chapel High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 99
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$868
Property Tax -$424
Property Insurance -$135
HOA -$29
Property Management Fees -$129
CASH FLOW
-$25

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,279

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,560

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,5953$1,6004$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 31329 Triborough Dr Wesley Chapel, FL 1
    • 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.92
    •  
  • 31352 Golden Gate Dr Wesley Chapel, FL 2
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2006
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 31100 Masena Dr Wesley Chapel, FL 3
    • 3 beds 3 baths ∙ 1,716 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,716 Sqft ∙ Built 2004
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 7334 Parkersburg Dr Wesley Chapel, FL 4
    • 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 2006
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 31253 Triborough Dr Wesley Chapel, FL 5
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 2004
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
PROPERTY LISTING DETAILS
Melanie Atkinson
1.813.368.6084
Smith & Associates Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286046
Last Updated: 01/21/2021
BESbswy